Dow Sets New Record as Tech Stocks Rebound

The Dow Jones Industrial Average set a new closing high on Monday, reaching 53,178.41, surpassing its previous record of 53,055.91 set on July 6.

The S&P 500 Index and Nasdaq Composite also rose, with the S&P 500 adding 110.78 points to close at 7,600.50, just shy of its record finish of 7,609.78 set on June 2.

Technology stocks led the charge, with Meta Platforms, Microsoft, Alphabet, and Amazon all posting significant gains. The AI-buildout thesis remains intact, according to Wall Street, as hyperscalers like Meta and Microsoft continue to perform well.

Oil prices fell sharply after U.S. President Donald Trump announced that he had postponed planned air strikes against Iran in a bid for more peace talks.